Dec 18 (Reuters) - Following are highlights of Saudi Arabia's 2019 state budget, released on Tuesday. BUDGET FORECASTS 2019 - Total expenditure projected at 1.106 trillion riyals ($295 billion) - Revenue forecast at 975 billion riyals - Budget deficit seen at 131 billion riyals or 4.2 pct of GDP - Public debt 678 billion riyals or 21.7 pct of GDP - Oil revenues estimated at 662 billion riyals, taking into account the financial impact of correcting energy prices, compared to 607 billion in 2018 - The government expects non-oil revenue to increase to 313 billion riyals in 2019, up from 287 billion riyals in 2018, according to state news agency SPA - GDP growth expected at 2.6 pct in 2019 vs 2.3 pct in 2018 2018 - Saudi Arabia expected actual state budget deficit of 136 billion riyals or 4.6 percent of GDP - Expected expenditure at 1.030 trillion riyals - Expected revenue of 895 billion riyals - Public debt 560 billion riyals or 19.1 percent of GDP - Saudi Arabia collected 45.6 billion riyals from value-added tax (VAT) in 2018, more than double its initial estimate, budget documents showed. It also expects total tax revenues of 166 billion riyals this year, up from an initial estimate of 142 billion riyals. COMMENTS - Saudi Arabia's King Salman says 2019 budget is the largest in kingdom's history - "We are determined to go ahead with economic reform, achieving fiscal discipline, improving transparency and empowering private sector," he says. - The Saudi King earlier on Tuesday ordered the continuation of public sector cost-of-living allowances, before a state budget announcement which boosts spending despite efforts to close the fiscal deficit. (Reporting by Dubai Newsroom)
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